Regulators doing 'more harm than good' on cybersecurity: The Clearing House

When it comes to cybersecurity, the less regulatory intrusion the better, an advocacy group for large banks argued in a report Friday.

In the report, The Clearing House said that overlapping layers of regulation, guidance and laws that establish cybersecurity requirements for the financial industry are only hurting banks' efforts to deal with cyberthreats. Since 2014, U.S. banks have been subject to at least 43 new cybersecurity-related policy requirements, according to the report, which will appear in the group's latest quarterly journal.